HEU rejecting daily resistance trendline Canadian HEU is rejecting daily resistance trendline despite OIL rallying today and American energy companies performing green today
May have to do with tariff threats.
Ticker: HED for shorting HEU
HEU trade ideas
Canadian Energy and US Oil are Top Plays for 2020I won't go into lengthy detail about why energy/oil will be a winner since I have done so on numerous ideas already, however, I wanted to kindly make this idea to give people who may be unaware, of what etfs they should be looking at for 2020.
HEU follows top Canadian Energy players like Suncor and Canadian Natural Resources with some smaller ones on a 2x leveraged basis.
NRGU follows big US Oil players like Exxon, EOG and so forth. It follows the 10 biggest US oil companies at 10% per stock on a 3x leveraged basis.
Both are good plays for 2020 that use a leveraged return profile.
It is important to be patient. A quick spike in oil may not always equate to some epic rise in energy stocks. Similar to Gold stocks, it took at-least 4-5 weeks of elevated Gold prices for the mining sector to take off - the same will be true for the energy sector.
- zSplit
Clear $7 Resistance for TSX:HEULots of things aligning for $7 exit. Not sure about entry but the exit is clearly defined
Looks like we are going for Wave 5 of bullish impulse. Beware declining bull volume. $5 was the entry earlier 20-25% profits at the moment.
Possible Fib 1.272 extension level in yellow
Support turned Resistance
200 daily ema is at 7.20~
RSI levels if they get extended on buy side on lower levels would signal out
I feel really cheeky barely knowing EW principles clicking Elliot Wave in the category but this chart has a clearly defined resistances that all align that made me excited to post this and see how it turns out! Cheers.
